UpdateMethanex hikes December methanol APCP to $330/tonne

27 November 2009 08:46  [Source: ICIS news]

SINGAPORE (ICIS news)--Methanex increased its December methanol Asian posted contract price (APCP) by $30/tonne (€20/tonne) to $330/tonne from November levels, the company said on Friday.

APCP, on CFR (cost and freight) Asia basis, is the benchmark for Methanex’s contracts in South Korea and Japan, where large importers buy on negotiated formulas based on this number.

Methanol inventories were low and spot supply was scarce, most Korean buyers said.

Spot prices were at $250-270/tonne CFR Korea for November, according to data from global chemical market intelligence service ICIS pricing.

Methanex had earlier announced its December methanol contract price for North America at 110 cents/gal ($366/tonne, €245/tonne) FOB (free on board), a 10 cent increase from November.

($1 = €0.67)

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By: Heng Hui
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